FINRA is looking to help small Broker-Dealers Survive & Thrive

Per Investment News, FINRA’s new CEO, Robert Cook, is looking for ways to support the small broker-dealers.

Securities Investor Protection Corporation Reduces Rate Effective January 1, 2017

As of August 30, 2016, the Securities and Exchange Commission approved an amendment to the Assessments Bylaw of the Securities Investor Protection Corporation, which will reduce the assessment rate from 0.25% to 0.15% effective for fiscal years beginning January 1, 2017, or thereafter.  The rate reduction comes as a result of SIPC Fund reaching a cumulative balance of $2.5 billion with the expectation that it will remain above $2.5 billion for at least the next six months.

What this means for most broker dealers is that the implementation of the reduced rate will take effect on the upcoming SIPC 6 filing, based upon net operating revenue for the six months ended June 30, 2017.  The SIPC 6 filing is due on July 31, 2017, immediately after the second quarter Focus Report submission deadline.

We are encouraging firms to be mindful of the update and to take advantage of the cost savings resulting from the aforementioned amendment.

Please feel free to contact us at (212) 668-8700 or at if you have any questions.

ACI Listed as a Member of FINRA’s Compliance Vendor Directory

Effective this week, the Financial Industry Regulatory Authority will be going live with their new Compliance Vendor Directory (CVD), a comprehensive list of service providers in nine distinct categories, as follows:

1. Compliance Consulting
2. Cybersecurity
3. Data Management
4. Email & Social Media Archive
5. Exam Prep & Firm CE
6. Insurance Brokers
7. Monitoring
8. PCAOB Accountants
9. Registration

Recent feedback from the broker dealer community has prompted FINRA to create a service provider directory for member firms. The objective is to centralize a database of expert consultants that broker dealers can refer to when engaging for regulatory services at their respective firms.

Accounting and Compliance International (ACI) is pleased to announce that we have been accepted as an initial member of the CVD, qualifying for both Compliance Consulting and Registration. We will be one of approximately 20 firms nationwide who have been afforded this honor.

The CVD will be demonstrated for the first time at FINRA’s annual conference in Washington D.C. on May 16 to May 18, 2017.

For further information please contact Jay Gettenberg at (212) 668-8700, extension 25, or by email at